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Rigetti Computing, Inc. (RGTI) Suffers a Larger Drop Than the General Market: Key Insights
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Rigetti Computing, Inc. (RGTI - Free Report) ended the recent trading session at $14.79, demonstrating a -1.99% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.45%. Meanwhile, the Dow experienced a drop of 1.21%, and the technology-dominated Nasdaq saw a decrease of 0.01%.
The company's shares have seen a decrease of 14.79% over the last month, not keeping up with the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. On that day, Rigetti Computing, Inc. is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 66.67%. At the same time, our most recent consensus estimate is projecting a revenue of $3.89 million, reflecting a 99.64% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $24.55 million, demonstrating changes of +70.31% and +246.36%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rigetti Computing, Inc. presently features a Zacks Rank of #5 (Strong Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Rigetti Computing, Inc. (RGTI) Suffers a Larger Drop Than the General Market: Key Insights
Rigetti Computing, Inc. (RGTI - Free Report) ended the recent trading session at $14.79, demonstrating a -1.99% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.45%. Meanwhile, the Dow experienced a drop of 1.21%, and the technology-dominated Nasdaq saw a decrease of 0.01%.
The company's shares have seen a decrease of 14.79% over the last month, not keeping up with the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Rigetti Computing, Inc. in its upcoming release. On that day, Rigetti Computing, Inc. is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 66.67%. At the same time, our most recent consensus estimate is projecting a revenue of $3.89 million, reflecting a 99.64% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $24.55 million, demonstrating changes of +70.31% and +246.36%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Rigetti Computing, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rigetti Computing, Inc. presently features a Zacks Rank of #5 (Strong Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.